Peninsula musical theater company Broadway By the Bay looked inward for its newest executive director, naming Daren A.C. Carollo, who sits on its board of directors.

Carollo, who most recently served as artistic director for Diablo Theatre Company and the managing director for Contra Costa Civic Theatre, said he is committing to establishing the company as an artistic leader and collaborator in Bay Area theater.

“The short- and long-term goals created by the staff, the board of directors, and the Broadway By the Bay family are directly in line with my goals for local theater,” Carollo said in a prepared statement.

Artistic director Amanda Folena said Broadway By the Bay is “energized” by Carollo coming on board.

“I could not ask for a better partner,” Folena said in a prepared statement.

Carollo has a bachelor’s of arts in theater from Illinois State University and has more than 50 credits as an award-winning director in the last decade.

The news comes a little more than a year after the Redwood City-based theater company restructured its leadership and re-examined itself to ensure fiscally sound progress. In early 2012, the theater company launched a fundraising effort with a year deadline of reaching a half-million dollars. In August 2012, owners of the historic Fox Theatre stepped in to help the company address its immediate debt and expand offerings.